Joel Elconin is the co-host of Benzinga's #PreMarket Prep, a daily trading idea radio show.
Lowe's Companies, Inc. (NYSE: LOW) shares were trading lower by $0.46 at $74.19 in Wednesday's session. Despite exceeding Wall Street's expectations for EPS ($0.46 vs. $0.43) and sales ($12.5 billion vs. $12.3 billion), the issue is trading the red.
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.
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After a sharply higher open (Tuesday's close of $74.65 vs. Wednesday's open of $75.90), it immediately found resistance just above Tuesday and all-time high of $75.82, reaching $75.98 before reversing course.
The ensuing decline took the issue all the way to $73.25 within the first 30 minutes of trading. That level coincides with Monday's low ($73.27). Since making the low, it has rebounded to just ahead of its all-time closing high ($74.65) to $74.77 before retreating to its current level.
Lowe's has nearly tripled the broad market return (3 percent) rallying nearly 8 percent after ending 2014 at $68.80.
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.